VOL. XLII

No 50

13-December-1999

OPEC

IEA Presents A Thirsty Oil Market

"Oil demand exceeds supply. Inventories are being drawndown rapidly to meet the unsatisfied demand. This is a thirsty oil market,waiting for more oil which will have to come principally from OPECcountries." This, in a nutshell, is the dramatic picture of the prevailingoil market outlook as painted by the International Energy Agency (IEA) in thelatest (December) issue of its Monthly Oil Market Report (MOMR).

Although only a...